Fintech Infibeam Avenues to acquire controlling stake in Rediff.com

Payments solution provider Infibeam Avenues on Friday announced that it will acquire 54 per cent stake in news website Rediff.com India, as the company plans to expand its consumer facing business. The Gandhinagar-based fintech major, which operates payment gateway CCAvenue, will acquire the stake for Rs 50 crore, which will be equally divided into equity and debt.

Rediff has about 55 million monthly visitors on its website, and over 5,000 companies use its email services.